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Belarus, Finland to scale up investment activities

Economy 22.03.2019 | 09:01

MINSK, 22 March (BelTA) – Belarus and Finland are mutually interested in closer cooperation in trade, economy and investment, Head of the Liaison Office of Finland in Minsk Janne Heiskanen said as he spoke at the Day of Finnish Business in Belarus on 21 March, BelTA has learned.

The diplomat noted that in recent years the mutual interest in promoting bilateral contacts has become particularly pronounced. In his view, the two countries are well positioned to scale up cooperation in investment. The Day of Finnish Business in Belarus was arranged with a view to unlocking cooperation potential. The event brought together business people and representatives of business associations of the two countries.

The participants of the event studied incentives for investors and the most promising areas for investment in the two countries. The Finnish business delegation was particularly interested in information technology in Belarus, the state of things and development prospects of the IT sector and a possibility to set up high-tech companies in Belarus, including at the Hi-Tech Park and the China-Belarus Industrial Park Great Stone.

Representatives of the Finnish side told their Belarusian counterparts about the business landscape in Finland and financial instruments to promote entrepreneurship. A presentation of some Finnish companies operating in Belarus was held.

Taking part in the event were representatives of the Liaison Office of Finland in Minsk, Belarusian government agencies, Finnish and Belarusian companies and organizations, including companies providing loans for export operations and insurance coverage of export risks.

In 2018 Belarus-Finland trade was estimated at $127.6 million including $18.8 million in export and $108.8 million in import. Belarus' major exports to Finland are insulated wire, timber, metal structures, and women's knitwear.

Last year Belarus received $10.2 million in foreign direct investment from Finland.

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